Samsung Sells Printer Business to HP for $1.05 Billion

The personal-computer maker has agreed to buy Samsung Electronics Co.’s printer business for $1.05 billion, betting that it can grab share and generate income, even in a shrinking global market.

The deal will add to earnings in the first full year, Palo Alto, California-based HP said in a statement Monday. As part of the agreement, Samsung has committed to buy $100 million to $300 million worth of HP shares on the open market after the acquisition closes, the companies said.